. >> reporter: counterfeits currently cost the economy around $250 billion a year and 750,000 jobs. >> if counterfeiting were a business, it would be the largest enterprise in the world. twice the size of walmart. >> these are the real bags. these are the fake bags. how would i know? >> dead giveaway, this is the louis vuitton speedy bag. the speedy bags, the authentic speedy bags are made with one piece of canvas. if it's one piece of leather, this part would be right side up, but the back because it goes up should be upside down, so that's the dead giveaway. >> how much is this? >> this today i do 32. >> wow, that's a great price. >> yeah. >> reporter: i went down to canal street to see just how easy it is to purchase one of these knockoffs. while this man was actually trying to sell us one of his illegal louis, he even informed us of the new bill. >> they wanted to make a law that they said it was illegal for customers to buy. >> so i would get in trouble. >> not now. it's very hard because most people don't want it because you know they want to enjoy the option to get it on the bl